This post was contributed by a community member. The views expressed here are the author's own.

Health & Fitness

Community Update

When thinking about your retirement it may feel overwhelming to figure
out if you are on track towards retirement or how much money you will
need to retire. For years, many thought that $1 million was enough to
retire on, but it depends on your situation. If you retire with $1
million and invest it and earn 4%, you can pull out $40,000 a year of
your million without touching the principal. The question then is, can
you live off $40,000 a year? I can help you with your retirement
planning but the place you can start is by asking yourself a few
questions. There are three questions you want to be able to answer when
looking to achieving your retirement goals:<br><br>1. How much money do you have saved so far for retirement?<br>2. What age do you want to retire?<br>3. How much income do you want in retirement?<br><br>If you can answer these three questions we can tell you if you are on
track towards retirement or not and if you are not on track, how much
money you need to save every month to get on track. We can help you plan
for your retirement. Make sure you know what retirements means to you.
Once you know that, we would love to help you plan.<br><br>Securities offered through LPL Financial. Member FINRA/SIPC.<br><br>

We’ve removed the ability to reply as we work to make improvements. Learn more here

The views expressed in this post are the author's own. Want to post on Patch?

More from Lake Minnetonka